Alibaba is picking up 33% of Ant Financial, its fintech affiliate that’s valued at over $60B

Alibaba has added an additional angle to the announcement of its latest financial report today with news that it is taking a 33 percent stake in Ant Financial, its affiliated fintech business that operates Alipay and other financial services. The deal, which both parties said stems from an agreement made in 2014, will see Alibaba pick up newly issued shares in Ant. It will also mark an end to… Read More